Finance Application Checklist

Supporting your application.

Whether you’re applying for new borrowing or looking to re-finance existing borrowing, it’s important that we understand the background to your request. This allows us to assess your ability to repay and helps you to choose the most appropriate product to meet your needs.

This checklist gives you details of the type of information we may ask you to provide, to support your application. The list and questions we ask you may vary depending on the amount you wish to borrow and your circumstances. We may ask you for further information in addition to the list below.

Your borrowing requirements

How much you want to borrow.

How long you would like to borrow it for.

Why you want to borrow it.

How you will repay it.

About your business

A profile of the business, the owner and/or management team including experience, expertise and track record. How much you and/or the management team have got personally invested in the business. Where the assets being offered as security are located, together with details of the assets, including an accurate estimate of their value (professional valuations will be required in some instances). Whether you have any other borrowing commitments.

Additional information

Depending on your borrowing request, we may also ask you to provide us with:

Business plans — usually covering the term of the borrowing.

Cash flow forecasts — usually covering the term of the borrowing.

Details of your business assets and liabilities, including any additional income from other sources.

ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

Overdrafts are repayable on demand.

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Please note that any data sent via e-mail is not secure and could be read by others.

Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 169628.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

The Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on the Lloyds Banking Group can be found at lloydsbankinggroup.com.